Cylum Finance - Revolutionary Staking and Yield Earning
Cylum Finance (CYM) is an auto-staking protocol that is set to revolutionize the decentralized finance (DeFi) space by providing an easier way for people to stake and earn great interest on their cryptocurrency investments. It makes use of its proprietary protocol to provide a DeFi platform that allows users to yield returns based on a fixed compound interest that is highly sustainable.
Cylum Finance makes use of its native token, the Cylum token that has automatic staking and automatic compounding abilities and a fixed annual percentage yield (APY) of 395,677% for the first year which happens to be the highest in the market.
Automatic Staking and Compounding Feature
Cylum Finance provides a non-complex yet revolutionary Auto-staking feature that provides Cylum token ($CYM) holders with a straightforward staking option. This feature is referred to as the Buy-Hold-Earn feature, which means that the prospective Cylum token holders may simply buy the $CYM tokens and store them in their wallet, and the tokens will be automatically staked, and they can immediately start earning interest on the tokens that have been held.
These earnings are on a minute basis, which means that the value of the token holders' stored assets will go up after a minute has passed. The protocol makes use of a compound interest formula to facilitate the disbursement of tokens to the tune of 0.75 percent of the total amount of Cylum tokens stored in the wallet every minute. This allows the holders of the $CYM token to have an annual percentage yield (APY) of 395,677 percent on the first year in which the users' tokens would be locked. When the first 12 months have passed, the compound interest rate starts decreasing.
The APY is the rate of return a token holder will earn on their investment in the token. This works based on compound interest and not simple interest. While simple interest gives you earnings based on the interest rate tied to the initial investment, the compounding interest is calculated at every given time frame based on the amount that is already in the wallet, and the interest is immediately added to the balance. This means that as time goes on, the amount stored in the wallet increases, and as that happens, the interest that will be paid on that amount will also increase.
Burning is a process that permanently reduces the amount of circulating tokens for a cryptocurrency. This is usually achieved by transferring the number of tokens to be burned to a "Burn Wallet," which is essentially a wallet from which tokens can not be retrieved. This creates scarcity and brings about deflation.
Cylum's automatic burn algorithm creates this deflationary effect. The automatic burn process will be kicked off at launch, with the first burn eliminating 2% of the whole supply at launch. This auto burn process makes sure that the entire pool of Cylum tokens keeps on deflating when juxtaposed against the holder's balance, while the holder's balance is growing when compared to the total supply of $CYM tokens. This automated burning mechanism provides the Cylum token with a reliable gauge for demand and supply. Cylum finance has its burn address (0x0000000000000000000000000000000000000000dEAD) on the Binance Smart Chain, and holders can keep track of the regular burn.
For the holders of the $CYM token, their part of the overall market cap continues to grow due to this burning process. If the market cap doesn't grow due to the influx of investors, the USD worth of the tokens available in the wallet of the holder still increases. If the market cap grows due to more investors coming in, the growth of the USD value of the tokens in the holder's wallet grows even more as your share/total supply continues to grow.
Cylum Finance is committed to leveraging the Decentralized finance technology to provide a sustainable automated protocol that would allow potential Cylum token holders to yield very high returns on their investment at low risk.